Antonio Simoes, chief executive officer for HSBC in the UK is to become chair of the FCA Practitioner Panel from 1 August 2015.
He has been a member of the Practitioner Panel for two years.
Simoes (pictured) succeeds Alison Brittain, former group director of retail at Lloyds Banking Group, who announced in May that she is leaving the financial services sector, and therefore the Panel, to join Whitbread plc as Group CEO.
Simoes has been CEO for HSBC in the UK since November 2012 and is deputy chief executive of HSBC Bank plc, the group’s principal European subsidiary. Before joining HSBC, he was a partner at McKinsey & Company’s London office and also worked at Goldman Sachs.
The FCA Practitioner Panel is an independent statutory body that represents the interests of the financial services industry within the UK’s regulatory framework. Panel members are recruited to represent sectors and the industry as a whole, rather than individual firms.
FCA Chairman John Griffith-Jones said: “The Practitioner Panel plays a vital role in ensuring that the voice of industry is heard in the UK’s regulatory system. Antonio has served on the Panel for the previous two years and appreciates how important the role of Chair is so that the regulator and financial services industry can have a dialogue that is both challenging and constructive. I look forward to working with him in his new role.”
Simoes added: “It’s an honour to have been invited to chair the FCA practitioner panel. I’m looking forward to making a positive contribution to the important role the panel plays in supporting the regulatory framework in the UK, at a time when rebuilding trust in the financial services industry has never been more important. My focus will be on fostering a constructive dialogue between the panel and both the Executive and the Board of the FCA.”